Even as we continue to navigate this strange year, it pays to take a closer look at your company’s compliance priorities to make sure they still align.

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There is no denying that the business world is dynamic and ever-changing. Amid the emerging and ongoing pandemic, its impact on how we work, what we expect from employees, and what companies need to remain viable in this variable and inflationary economic environment, the business world is rapidly evolving. has been While many consider compliance to be a set-and-forget-business process, it requires constant updating and change to adapt to the increasing dynamics and demands of consumers, customers, and the economy.

While half of 2022 is already in our review mirror, now it’s prime to take a closer look at how your company’s compliance policies are working and what you may need to adjust to meet the latest challenges. there is time. Here are four considerations that every compliance officer will need to keep in mind as we move into the remainder of 2022.

Supervision in a changing remote-work world

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Distant work is here to stay. This is a significant benefit for employees working from home during the pandemic, and is a huge factor that affects employee retention.

Let’s look at some facts first. according to a Survey Of the nearly 5,000 workers at the end of 2021 by FlexJobs, a job board that lists flexible remote working, 44% of employees surveyed know at least one person who left a job as a result of personal work requirements. Has given up or is planning to quit his job. Even more, 29% are actively looking for a new job that allows remote work, and 17% say they would leave their jobs if remote working was not an option. According to test result According to Pew Research, 60% of employees who can work remotely would like to continue working from home “all or most of the time” after the pandemic.

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It is clear that if companies want to keep their best and brightest employees, they will need to meet their needs and provide accommodation for flexible and remote working opportunities. So what’s a compliance officer to do? It’s time to adapt to the needs of the changing workforce, and that means making sure you have the right tools to empower managers to monitor remote workers without violating worker privacy.

Finding the right equipment is a delicate balance and often depends on the region in which your business operates. Nevertheless, compliance departments must ensure that they provide the right level of supervision and autonomy to workers. You’ll need to work with your key stakeholders to determine exactly what you need to meet employees, provide flexible work options, and keep your company information secure.

Personal Responsibility for Senior Managers

Many senior company executives are familiar with personal liability for business activities. Still, the space continues to grow as more lawsuits and cases come before courts across the country, defining what senior officials are legally and personally responsible for.

As we all continue to work in a hybrid work-from-home and in-office world, the lines between off-the-clock and off-the-clock and the company’s asset lines have blurred. Although this is new, it is an issue that is constantly evolving. If an employee is working from home and using their computer to download work-related material at the behest of a senior manager, are they on the hook for “stealing” company assets? It’s a fine line and a dice to navigate, but it’s becoming increasingly common in the world of remote-working and something that compliance departments and executives need to clearly define to protect both employees and the company. is required.

In addition, there is growing concern about damage to reputation caused by unscrupulous officials. In many cases, senior managers may be on the hook for non-financial misconduct, according to Reuterscan include everything from Stealing Sandwiches To Manipulate College Admissions, Ensuring that senior managers keep their behavior on the right side of public perception is critical for compliance officers as we move into the second half of 2022.

Addressing changing climate risks

Climate risk has become an increasingly important aspect of managing corporate compliance, and it is important to recognize that the trend is here to stay. While standards are based on local rules and regulations, we can’t forget the lessons the pandemic has taught us (and continues to teach): supply chains are not unbreakable, and the global climate emergency is something that every single business Must deal with survive.

Understanding how your business affects the climate and how it can mitigate that impact is critical to success. It is also essential to understand how your supply chain can be affected by rapid climate change, rising and warming oceans and a changing environment. This is not something that compliance can ignore.

Pay attention to due diligence for third parties

While this comes up frequently in compliance assessments, it bears repeating, especially in mid-year: companies must have an effective due diligence program in place to ensure that the third parties they interact with are are above board. It’s not just isolated to things like governance and legal requirements. For most companies, third-party due diligence needs to include everything from human rights and climate change to diversity and inclusion.

The Bottom Line on What to Keep in Mind for Compliance in 2022

While we cannot plan for what we do not know, the important function of compliance is to be aware of all possible ways external (or inside) forces can cause harm. Many people think that compliance is a set-it-and-forget-it task, but, in reality, it is a process that requires constant updates to meet changing goals and the business environment.

By focusing on these four key things that every compliance officer should keep in mind in 2022, you’ll be able to better prepare for the potential pitfalls that could come in the second half of the year and ensure that your company is on a solid footing. is on. As we start preparing for 2023.